U.S. regulators are poised to scrap their proposal for revising Volcker Rule restrictions on banks' trading in favor of a newer version as they respond to a misstep that drew fire from Wall Street lobbyists, according to people familiar with the effort.
A legal memo conducted on behalf of the trade group says the agency’s policy goes beyond statutory intent and places undue restrictions on healthy banks.
The FDIC reserve fund is nearing a threshold that will trigger a temporary reprieve on deposit insurance premiums for banks with less than $10 billion of assets.
By applying to become an industrial loan company, the fintech would be able to use insured deposit accounts as a cheap source of funding without having to comply with the tough rules banks face.
Lawmakers on the Senate Banking Committee pushed Federal Reserve Chair Jerome Powell for details about how he plans to review the proposed merger between the two regional banks.
The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.
Readers weigh legislative proposals on pot banking, consider JPMorgan's new digital coin, debate the Federal Deposit Insurance Corp.'s brokered deposit rules and more.
Banks earned $59.1 billion in the fourth quarter, a 133% year-over-year increase, due to a one-time charge in the year-earlier quarter and a lower effective tax rate throughout 2018.
More than three dozen organizations are asking the FDIC to reject Square’s pending application to become an industrial loan company, according to a letter filed Tuesday.
